Long-term constraints on truckload capacity a positive for Echo's brokerage operations.
In the second quarter, narrow-moat highway broker Echo Global Logistics posted a 6% rise in gross revenue, driven by solid increases in managed transportation business, less-than-truckload volume growth, modest core pricing gains, and higher fuel surcharges. However, gross revenue came in well below our forecast due to weaker-than-expected truckload volume trends, which management attributed to its decision to avoid poorly priced business in the face of elevated rate competition in the brokerage...Echo Global Logistics is a provider of technology-enabled transportation and supply chain management solutions. The company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers. The company focuses on arranging transportation with truckload and less than truckload carriers. The company also provides intermodal, small parcel, domestic air, expedited and international transportation services. The company's logistics services include carrier selection, dispatch, load management and tracking. The company procures transportation and provides logistics services for clients across manufacturing, construction, food and beverage, consumer products and retail industries.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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